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Pioneer Bank Finalizes Purchase of Berkshire Bank Branches

Acquisition of two bank branches in Greene County will expand services for customers in the Greater Capital Region.

August 1, 2016

TROY, NY — We announced today that we have finalized the purchase and assumption agreement to acquire two retail bank branches in Greene County from Berkshire Bank, providing two more locations customers can visit for their banking needs. We will own the Berkshire Bank branch at 440 Main Street in Cairo, and will assume the lease on the branch located at 11565 Highway 32 in Greenville.

“This acquisition signifies a major step forward in our organization’s strategic growth plan,” said Pioneer Bank President and CEO Tom Amell. “Pioneer Bank is committed to continuously expanding and improving the scope of services we offer our customers, and that includes a superior in-branch experience. This is just one example of our bank’s growth over the past months, a trend I look forward to seeing continue.”

We worked diligently to ensure a seamless transition for Berkshire Bank customer accounts and employees. We are offering continued employment to branch employees who are on staff at both of the newly acquired locations. Once we complete our new Headquarters and Banking Center on Albany-Shaker Road in Colonie, we will have 21 branches serving customers throughout the Greater Capital Region.

Pioneer Bank’s new headquarters will feature 60,000 square feet of office space across four floors, including leased retail space on the first floor. The Banking Center will feature a drive-up interactive teller machine. A remote ATM will also be located on the premises for convenient use by the public.

A pillar of the Capital Region’s financial landscape, Pioneer Bank has positioned itself as a top tier financial institution known for providing superior performance and service to its customers. As a prominent local financial institution, Pioneer Bank has experienced considerable growth in recent years, allowing it to expand and enhance service offerings and maintain a reputation as a top performing financial institution that is easy to do business with.

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